China's INDC endorses emissions trading

On 30 June, China submitted its INDC to the UNFCCC (Chinese). The submission outlined a set of post-2020 targets, as well as policy measures to help achieve these targets. ETS is part of the INDC (Chapter II Section L). The INDC states that a nationwide emissions trading system (ETS) is to be established based on the existing pilots. It also vows to improve MRV and the relevant rules of the market. The inclusion of ETS in the INDC further confirms the government's intention to pursue it as an important tool to help achieve climate targets. It further indicates the high level political endorsement of emissions trading.